Fortis Bank Global Clearing (FBGC) has licensed the TwoFour System to automate its foreign exchange (FX) risk management, clearing and settlement processes. The initial scope for its client services business includes FX spot and forward activity as well as for vanilla over-the-counter FX options.
FBGC’s business has undergone significant changes recently and additional volume growth is anticipated.
Andrew Gibson, FBGC’s sales manager – FX products, said: “We selected TwoFour because of its reputation and knowledge of the FX market. Its application will allow us to easily support our anticipated volume and its workflow design will make it possible for us to achieve very high straight-through processing percentages for all products.”
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